LabStart ICO did not reach the Softcap. We will return the ETH to all contributors.

Written by Nicolas Pauwels (CEO at LabStart)

Unfortunately we didn’t reach soft cap, and thus we will be honoring our terms and conditions and returning the Ethers to all contributors.

If you invested ETH in the ICO and want to claim your refund, please call the “claimRefund” function on the ICO contract (0xbae2faa1a36d0bbd9198bc6c9957cd1b813e8a77). You should receive your refund once your transaction has been validated by the Ethereum network.

We have analyzed all our steps and identified some of our mistakes:

Description of the project was too complex. Unfortunately, we were not able to convey the idea of the project to regular users. It is necessary to present the project in such a way that any user could understand by one phrase whether he needs it or not.

PR in mass media was not provided in time. Well, some of our partners let us down and we didn’t see the necessary articles before the ICO launch.

Advisors are needed from the very beginning. We attracted them quite late. We can’t say that this is critical, but it is useful to have them.

We were very unfortunate with the timing of launch. But the beauty of being an entrepreneur is that failure = learning. You can always try again, and with the added benefit of being wiser.

We still believe in the power of the Blockchain to change the world, and we will keep working to make it happen. Stay tuned!